Funding you earn now, next payment 02:00 UTC−0.0266%/8h= −29.2% APRpaid last 24h −0.044%
Price spread now: HTX against Backpack−0.143%7-day average −0.070% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$350.349% of the position
Funding, last 7 days−0.111%−$11 on $10k
+Price spread, last 3 days (all we have)+0.006%+$1 · spread now −0.143%, 7d avg −0.070%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and HTX is 0.073% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.070%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.111% in total (about -5.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BNB_USDC_PERP | 794.44 | 0.0366 | pay 0.0046% / 1h | 48m 24s | $2.7M | $5.7M | 40x |
| Short | HTX BNB-USDT | 793.30 | 0.0100 | get 0.0100% / 8h | 6h 48m | $8.1M | $8.6M | 75x |
Backpack BNB_USDC_PERP
HTX BNB-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$55.92
- Price spread: −0.143% → −0.070%
- −$7.3
- Slippage, 4 orders
- −$12.93
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$98.15
- Costs to cover
- 0.349%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; HTX: live order book, 1 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Backpack live order book, 1 min ago | 0.06 bp | 8.3 bp −$8 | 11.2 bp −$112 | doesn't fit | doesn't fit |
| Sell HTX live order book, 1 min ago | 1.92 bp | 7.9 bp −$8 | 11.9 bp −$119 | 43.5 bp −$4,352 | doesn't fit |
BNB on 46 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GMX BNB/USD [WBTC.b-USDC] | L −0.0161% / S +0.0334% | 1h | 792.45 | −0.251% | $47K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0132% | 1h | 792.66 | −0.224% | $2.5M | $1.0M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 794.04 | −0.050% | $4K | $239 | 25x | as long as short |
| Gate BNB_USDT | −0.0033% | 8h | 792.45 | −0.250% | $35.5M | $55.2M | 75x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 792.87 | −0.198% | $3.0M | $28.2M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 794.21 | −0.029% | $858K | $3.0M | 30x | as long as short |
| Variational Omni BNB | +0.0006% | 8h | 792.93 | −0.190% | $4.1M | $5.1M | — | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 792.45 | −0.250% | $9.7M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +1.341% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0034% | 8h | 793.60 | −0.106% | $6.1M | $20.0M | 200x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Gate BNB_USDT
GRVT BNB_USDT_Perp
StandX BNB-USD
Variational Omni BNB
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BNB-USDT | +0.0036% | 8h | 792.59 | −0.233% | — | $35.0M | — | as long as short |
| Phemex BNBUSDT | +0.0040% | 8h | 793.92 | −0.065% | $69.4M | $50.3M | 50x | as long as short |
| dYdX BNB-USD | +0.0041% | 1h | 793.28 | −0.146% | $160K | $63K | 10x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0056% | 1h | 791.39 | −0.384% | $607K | $1.1M | 50x | as long as short |
| MEXC BNB_USDT | +0.0062% | 8h | 793.10 | −0.169% | $82.2M | $12.7M | 200x | as long as short |
| Binance BNBUSDT | +0.0063% | 8h | 792.92 | −0.192% | $493.3M | $817.1M | 75x | as long as short |
| Bybit BNBUSDT | +0.0074% | 8h | 792.45 | −0.250% | $138.0M | $77.0M | 75x | as long as short |
| Phoenix BNB | +0.0088% | 1h | 792.08 | −0.297% | $170K | $36K | 10x | as long as short |
| Lighter BNB | +0.0096% | 1h | 793.43 | −0.127% | $2.8M | $3.9M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 792.57 | −0.235% | $383K | $468K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 792.75 | −0.213% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 793.61 | −0.104% | $1.2M | $932K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 792.40 | −0.257% | $53.3M | $110.9M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 793.30 | −0.143% | $52K | $134K | 10x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 793.11 | −0.167% | $27.7M | $10.0M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 792.41 | −0.256% | $77.3M | $28.3M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 792.62 | −0.230% | $4.1M | $76.6M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 793.72 | −0.091% | $160K | $435K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 792.88 | −0.196% | $112K | $887K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 792.75 | −0.213% | $32K | $9K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 793.16 | −0.162% | $13K | $1.6M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 792.80 | −0.206% | $390K | $995K | 10x | as long as short |
| HTX BNB-USDTshort | +0.0100% | 8h | 793.30 | −0.143% | $8.1M | $8.6M | 75x | |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 793.56 | −0.111% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 792.35 | −0.263% | $1.7M | $6.0M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 792.53 | −0.241% | $381K | $110K | 10x | as long as short |
| Hyperliquid BNB | +0.0113% | 1h | 793.21 | −0.155% | $52.6M | $19.8M | 10x | as long as short |
| RISEx BNB/USDC | +0.0131% | 1h | 793.16 | −0.161% | $1.1M | $1.4M | 20x | as long as short |
| Bulk BNB-USD | +0.0139% | 1h | 794.97 | +0.067% | $646K | $10K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0158% | 8h | 794.00 | −0.055% | $105K | $2.8M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0182% | 8h | 794.06 | −0.048% | $18.1M | $2.5M | 75x | as long as short |
| 01 Exchange BNBUSD | +0.0232% | 1h | 793.66 | −0.098% | $28K | $1K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 793.04 | −0.176% | $1.6M | $161K | 25x | as long as short |
| Reya BNBRUSDPERP | +0.0329% | 1h | 791.96 | −0.312% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERPlong | +0.0366% | 1h | 794.44 | long leg | $2.7M | $5.7M | 40x | |
| Hibachi BNB/USDT-P | +0.0456% | 1h | 793.77 | −0.085% | $68K | $38K | 12x | as long as short |
BingX BNB-USDT
Phemex BNBUSDT
dYdX BNB-USD
Coinbase International BNB-PERP-INTX
MEXC BNB_USDT
Binance BNBUSDT
Bybit BNBUSDT
Phoenix BNB
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Hyperliquid BNB
RISEx BNB/USDC
Bulk BNB-USD
Kalshi KXBNBPERP
BloFin BNB-USDT
01 Exchange BNBUSD
Deribit BNB_USDC-PERPETUAL
Reya BNBRUSDPERP
Hibachi BNB/USDT-P